The Viaplay streaming service debuted on the Polish market in August 2021 and caused confusion regarding the rights to broadcast sports events, which were previously held by various TV stations. Through this platform, you can watch Formula 1, Bundesliga, Premier League or Europa League games. However, Viaplay also offers a wide range of movies and series, including hits such as “The Godfather”, “Django”, “Wolf of Wall Street” or “Gladiator”.
One streaming service less in Poland
The Scandinavian streaming service has published a financial report for the second quarter of 2023, which also presents a new strategic plan. It shows that Viaplay wants to “optimise the portfolio”, which is to consist of “focus on the Nordic market and Viaplay Select”.
One of the slides shows that the platform wants to withdraw from Poland, as well as from the Baltic countries (Lithuania, Latvia, Estonia), Great Britain, the USA and Canada. “Exit from the investment in the form of sale, partnership or liquidation of business” – it was written in the presentation.
However, subscribers have no reason to worry. , which shows that the platform will not disappear overnight. The extinction is to be carried out in stages.
“We have initiated a strategic audit of other international markets, including Poland, where we will strive to develop optimal solutions, including the area of partnership cooperation. Until then, we will continue our activities and our customers will be able to use the full offer of the Viaplay platform. We will keep you informed of any changes and updates” – we read in the release.
Viaplay recorded losses higher than revenues
The financial report shows that Viaplay’s revenues increased by 16%, but the group recorded a much higher loss, which amounts to almost CZK 5.89 billion (approx. PLN 2.28 billion) net loss, mainly due to “write-downs and provisions for sports and non-sports content, exit from the Baltic States, goodwill impairment and restructuring costs”.
For this reason, the company also announces significant layoffs. “We had to make a number of immediate decisions out of concern for the future of our company. Unfortunately, this means the dismissal of over 25 percent of our employees,” said Joergen Madsen Lindemann, head of Viaplay Group, in a statement.
Source: Gazeta
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